‘Saint Johns Yangyang The Suite’ Large-Scale Transportation Development Boost Draws Attention

- Donghae Bukbu Line Scheduled to Open in 2027
- No Buildings Blocking in Front of the Complex, Securing Permanent View Rights

[St. John's Yangyang The Suite Panoramic View]

Development incentives are considered a key factor that determines the future value of real estate. In particular, transportation development incentives are recognized as the most reliable development drivers because they have a significant impact on the market as development progresses.

In provincial areas, interest from demanders is even higher because improved transportation conditions strongly contribute to revitalizing the local economy.

In Gangwon-do, which borders the East Sea, the Donghae Northern Line is attracting attention as a transportation development incentive. This is because it is expected to have a large ripple effect by connecting areas along the East Sea coast, where many tourist attractions are located, even within Gangwon-do.

The Donghae Northern Line is a 111.7 km single-track electric railway connecting Gangneung, Yangyang, Sokcho, Goseong, and Jejin, with a total project cost of 2.7406 trillion KRW. According to data from the Ministry of Land, Infrastructure and Transport, the Donghae Northern Line project is expected to generate about 4.7 trillion KRW in production inducement effects and create 39,000 jobs (Gangwon Research Institute, 2018). According to the 2023 budget plan announced last August by the Ministry of Land, Infrastructure and Transport, 282.8 billion KRW was allocated for the Gangneung-Jejin railway construction (Donghae Northern Line), and as of September, environmental impact assessment modification consultations are underway.

Among the beneficiary areas of the Donghae Northern Line, Yangyang is expected to see even greater benefits as it has tourist attractions such as Surfer Beach, Hajodae, and Naksansa Temple.

According to data from the Korea Tourism Data Lab, the number of visitors to Yangyang County from January to July this year was 9,451,715. Compared to 7,752,943 visitors during the same period last year, this is an increase of 1,698,772 visitors. If this trend continues, it is highly likely to surpass the record of approximately 15.23 million visitors in 2020, which was the highest since the 2018 survey.

Once the Donghae Northern Line opens, the number of visitors to Yangyang is expected to increase significantly, which will likely bring considerable changes to the real estate market in the Yangyang area.

Moreover, according to Korea Airports Corporation on the 14th, Yangyang International Airport, which had been stagnant, has seen domestic and international flights resume, and the annual number of users already exceeded 200,000 as of the 13th of last month. With 204,000 users last year, surpassing 200,000 for two consecutive years, the airport expects the number of users to reach a record high of about 340,000 by the end of the year since its opening.

‘Saint Johns Yangyang The Suite,’ located right in front of Naksan Beach in Ganghyeon-myeon, Yangyang-gun, Gangwon-do, is attracting demanders’ attention for these reasons.

‘Saint Johns Yangyang The Suite’ consists of 216 units across 6 basement floors to 23 above-ground floors, with exclusive areas ranging from 37 to 125 square meters. By unit size, it includes ▲18 units of 37㎡B ▲36 units of 40㎡C ▲42 units of 41㎡A ▲36 units of 43㎡D ▲42 units of 61㎡F ▲36 units of 68㎡E ▲2 units of 116㎡PH-B ▲4 units of 125㎡PH-A. The building is designed in an ‘X’-shaped tower structure to increase the ocean view ratio to about 81%.

Each unit has a balcony, and permanent panoramic ocean views (except for some units) are available from inside the rooms, which is expected to result in high satisfaction among demanders.

The complex’s entrance is almost adjacent to the beach, and during peak season, vehicle traffic in front of the site is blocked, allowing families with children to safely enjoy the beach.

The facilities will include hotel-grade amenities such as a fitness room, G·X room, and business lounge, which can be used for leisure and seminars. A ‘Kids Academy Club’ will also be established and operated to foster creativity and thinking skills in young children. This space will offer various activity experiences and programs such as cooking and art.

Additionally, a ‘Rooftop Sky Pool’ facing the sky and sea will be installed on the rooftop. Rest and leisure facilities such as a ‘Sky Garden’ and ‘Therapy Garden’ will be created nearby. The operation of ‘Saint Johns Yangyang The Suite’ will be managed by the hotel group ‘Saint Johns,’ which has experience as an official accommodation for the PyeongChang Winter Olympics and is known for high-quality service and a stable operating system.

‘Saint Johns Yangyang The Suite’ is a residential lodging facility, and anyone aged 19 or older can apply without a subscription savings account. It is considered non-residential, so it is not counted as a housing unit, and there are no acquisition tax surcharges or holding tax burdens, and resale of the pre-sale rights is possible. Stable income can also be expected by entrusting management to Saint Johns.

‘Saint Johns Yangyang The Suite’ is planned to be built in the Ganghyeon-myeon area of Yangyang-gun, Gangwon-do. The project developer is Penta Y2 Co., Ltd., the project trustee is Hana Asset Trust Co., Ltd., and construction is handled by Taewang E&C Co., Ltd. and Daeyoung Eco Construction Co., Ltd.

Sales promotion centers will be set up in two locations: Seoul and Gangwon.